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Accounting 2nd 9-Weeks Part 2
Test Description: Accounting 2nd 9-Weeks Part 2
Instructions: Answer all questions to get your test result.
1) Paid to an employee as a percentage of the employee's sales
A
wage
B
salary
C
overtime pay
D
commission
2) Account used to record the total of the employer's payroll taxes
A
Salaries Expense
B
Federal Income Tax Payable
C
Payroll Tax Expense
D
State Income Tax Payable
3) Taxes paid by the employer to provide funds for workers who are temporarily out of work.
A
Federal Income Taxes
B
State Income Taxes
C
Unemployment Taxes
D
FICA
4) Used to record merchandise sold during the period
A
Merchandise Inventory
B
Purchases
C
Accounts Payable
D
Sales
5) A ___________ in the post reference column indicates the amount will be posted to two accounts.
A
Diagonal Line
B
Account Number
C
Check Mark
D
Question Mark
6) A business may allow its customers to return unsatisfactory merchandise for full credit or to keep the merchandise at a lesser price.
A
False
B
None of the Above
C
Don't Know
D
True
7) Business that sales to retailers
A
Merchandise Business
B
Wholesaler
C
Retailer
D
Service Business
8) Business that sales to the final user.
A
Wholesaler
B
Service Business
C
Retailer
D
Merchandise Business
9) A reduction in the sales price of an item that is given for prompt payment
A
Cash Discount
B
Sale Discount
C
Purchase Discount
D
Sale
10) Business that sales to retailers
A
Retailer
B
Wholesaler
C
Service Business
D
Merchandise Business
*select an answer for all questions
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